Railways, Telangana in deal to form joint venture for rail infra
Hyderabad: In order to fast-track its rail infrastructure projects, Indian Railways on Thursday signed an MoU with the Telangana government for ensuring speedy execution of projects in the state. The MoU envisages the formation of joint ventures with the Telangana government for the development of railway infrastructure in the state. “States always have a lot of expectations for new railway lines. Thus, to meet the demands of the states, the Union Cabinet has approved the formation of joint venture companies,” Railway Board chairman A.K. Mittal said at the MoU signing ceremony.
Telangana is the sixth state to join hands with Indian Railways for taking up rail projects through the JV route. Mr Mittal said 17 states have consented to the formation of JV companies with the Railways, whereas five, Andhra Pradesh, Kerala, Maharashtra, Chattisgarh and Odisha, have already signed the MoUs.
“MoU will help in putting the execution of railway projects on a fast-track in the state. This will also help take into account the priorities of the states because these projects will be finalised in consultation with them,” he said. Railways have a large shelf of ongoing new line, gauge conversion and doubling projects requiring about Rs 3.5 lakh crores to complete.